How’s life? Gallup regularly conducts a poll using a

“Cantril scale,” which asks respondents to imagine a ladder with 10 rungs. Rung 0 represents the worst possible life, and rung 10 represents the best possible life. Respondents are asked what rung they would say they are on. Responses are classified as “Thriving” (standing on rung 7 or higher, and expecting to be on rung 8 or higher five years from now),

“Suffering” (standing on rung 4 or lower and expecting to be on rung 4 or lower five years from now), or “Struggling”

(not thriving or suffering). In May of 2020, Gallup found that the index had reached the lowest level since the Great Recession of 2008, at 48.8% thriving, with a sample size of 20,006. (https://news.gallup.com/poll/308276/life-ratingsplummet-year-low.aspx)

a) Explain the meaning of pn = 0.488 in the context of this situation.

b) Calculate the standard error of pn.

c) Explain what this standard error means in the context of this situation.